Despite subsidies, Budget maths sticks as Sitharaman enters home stretch

A crucial decision government has to take is whether to stick to the FY23 expenditure level or top it this year

After state election results, Finance Minister Nirmala Sitharaman will have to figure out what her expenditure scorecard should look like in Financial Year 2023-24 (FY24.) She would wish to emphasise on priorities post the Lok Sabha elections in FY25, but it is now that the management of the central government purse shall attract attention in India and abroad.

Note that India government papers shall be part of the global bond indices soon. J P Morgan has announced that Indian bonds will be included in its Government Bond Index-Emerging Markets suite starting June 2024. Fund managers like J P Morgan will